Powering innovative financial services for businesses and individuals across Europe
Mambu enabled Nordiska, a Swedish credit institution and embedded finance platform founded in 2014, to expand across DACH while keeping its operations lean.
- month implementation
- companies and consumers
NORDISKA
About the customer
Founded in 2014, Nordiska is a licensed Swedish financial institution offering innovative financial products to both companies and consumers. Their platform, Nordiska Embedded, provides built-in financial services, including savings, loans, and payment solutions, either under their own brand or through partners. They also offer corporate and real estate financing, as well as sustainable savings with a government deposit guarantee.
In December 2024, Nordiska secured a banking license in just four months, one of Sweden’s fastest approvals.
The challenge
Rebuilding a scalable, modern bank
In 2014, after a change in ownership, Nordiska set out to expand beyond traditional lending and support companies needing both financing and infrastructure. However, their legacy system relied on two separate, unconnected platforms for assets and loans, making operations slow, manual, and costly to maintain. To scale efficiently, Nordiska needed a cloud-native core banking system to eliminate infrastructure constraints, an API-driven architecture for seamless fintech and partner integrations, and faster product development to reduce launch times from years to weeks.
“The key thing that really caught my attention was the dynamic solution around APIs. Mambu enables me, as a user, to define my own endpoints through the UI, and there is no need for me to call a tech team or create tickets. I can compose my solution landscape and my team does product requirements and specifications.”
- Niklas Anderson, CTO at nordiska
The solution
A modular, API-first banking platform
Nordiska selected Mambu’s cloud-native banking platform to serve as the backbone of its operations. The implementation, completed in just four months, enabled Nordiska to:
- Build its Integrated Partner solution using .NET Core microservices and open APIs.
- Scale operations while maintaining a core team of just 50 employees.
- Offer Banking-as-a-Service (BaaS) to fintechs, allowing non-licensed firms to issue credit via Nordiska’s system.
The results
Fast-tracking growth with a modern core
Since partnering with Mambu, Nordiska has become a scalable, cloud-native banking institution. The platform enabled rapid expansion, faster product launches, and Banking-as-a-Service (BaaS) for fintechs, all while maintaining a lean, efficient team.
- Tripled capital while maintaining operational efficiency.
- Expanded into Finland and Germany with minimal overhead.
- Enabled fintechs to issue credit and manage promissory notes through Nordiska’s system.
“Our partnership with Mambu has opened enormous possibilities for us over the years and, in turn, for our customers, fitting our vision and strategic purpose of being one of the leading providers of cloud banking services in the Nordics and the European Union.”
- Niklas Anderson, CTO at nordiska
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